Fraud, Scams & Cybercrime

Fraud, Scams & Cybercrime

Hong Kong AFRC Fines PwC, Two Auditors Over Deficient Audits

By Sanday Chongo Kabange | 16/10/2025

The AFRC says the sanctions relate to multiple, pervasive audit deficiencies in the 2010 and 2011 audits of Hong Kong-listed Dynasty Fine Wines Group Limited.

Anti-Money Laundering

AUSTRAC to Get Additional Powers to Combat Crypto ATM Crimes

By Sanday Chongo Kabange | 16/10/2025

New legislation will empower AUSTRAC to restrict or prohibit high-risk products and give banks new tools to disrupt money mule accounts.

AI Risk & Governance

India Enlists Accounting Body for Sovereign AI Model Development

By Mark Johnston | 16/10/2025

The ICAI will provide financial data from listed companies to support the nation's sovereign AI ambitions.

Fraud, Scams & Cybercrime

Japan FSA Mandates Phishing-Resistant MFA for Online Brokers

By Sanday Chongo Kabange | 16/10/2025

New rules require default phishing-resistant authentication for key operations and ban login links in emails to combat rising fraud.

AI Risk & Governance

HKMA Announces Second Cohort of GenAI Sandbox Participants

By Sanday Chongo Kabange | 16/10/2025

The cohort includes 27 use cases from 20 banks, with a focus on AI governance and using AI to test systems against sophisticated fraud.

Anti-Money Laundering

How HUMINT is Closing the Gaps in Financial Crime Cases

By Nathan Lynch | 16/10/2025

In the complex world of financial crime investigations, banks and private companies are turning to “human intelligence” experts in an effort to crack their most challenging cases, writes Nathan Lynch.

Fraud, Scams & Cybercrime

Singapore Court Jails Company Director in S$25m Luxury Goods Fraud

By Nithya Subramanian | 15/10/2025

Pi Jiapeng was jailed for fraudulent trading, breach of director’s duties, and money laundering, a conviction that follows the 14-year sentence handed to his wife and co-conspirator.

Fraud, Scams & Cybercrime

US, UK Target Cambodian Scam Networks with Sanctions, FinCEN Rule

By Manesh Samtani | 15/10/2025

The actions include a Section 311 rule against a money laundering concern and the largest-ever US forfeiture of bitcoin.

Cybersecurity

OJK Indonesia Mandates Security Overhaul After Cyber-Attack on Brokers

By Mark Johnston | 15/10/2025

Regulators have ordered securities firms to strengthen digital defences and risk management following an attack that exploited system weaknesses.